Situated in the heart of the City of Westminster, Mayfair is known for its luxury shops, fine dining, art galleries, and exclusive real estate. Bounded by Hyde Park to the west, Oxford Street to the north, Regent Street to the east, and Piccadilly to the south, it is today home to aristocratic families, embassies, and high-end businesses.
Surprisingly it was not always the height of sophistication. Mayfair’s name originated from an annual party – May Fair – that was held in the area from 1686 to 1764. The event was eventually banned due to rowdiness. Today, elegant Georgian townhouses are situated among exclusive addresses like Grosvenor and Berkeley Square, and as one of the most expensive districts in London, it is officially the most expensive property on the UK Monopoly board.
For this journal I have decided to gather the insights from an expert in the neighbourhood Jo Eccles – founder and Managing Director of prime central London buying agents Eccord. Following an incredibly insightful interview in the Financial Times earlier this year in which she described Mayfair as ‘the most interesting and unexpected neighbourhood of London,’ it was great to discuss what makes the area so compelling from both a personal and professional perspective for our clients.
Thanks for taking the time to chat Jo. There are many new and exciting developments cropping up in the Mayfair neighbourhood, such as 60 Curzon Street, 20 Grosvenor Square: Four Seasons Residences and 1 Mayfair. What is it about this neighbourhood that holds such timeless appeal for international clients?
There’s a certain cache to owning a property in Mayfair, so for wealthy and international buyers looking to buy a London base or add to their global property portfolio, it’s always high up on the wish list. It is without a doubt one of the most prestigious locations in London and it has stood the test of time. One of the things I love most about the area is the number of ‘tardis’ properties, which can look fairly unassuming from the outside, but once you step through the front door they can open up into the most unexpected space, whether it’s a large internal courtyard or a swimming pool.
Other prime areas such as Belgravia or South Kensington have very consistent white stucco architecture, whereas Mayfair has a wide variety of properties, from mansion blocks and mews houses, to significant lateral apartments and of course the historical mansions that Mayfair is so famous for. Whilst other competing locations such as Marylebone and Chelsea have had significant investment and transformation increasing their appeal, Mayfair continues to hold its position of global prestige.
Mount Street Restaurant creates a beautiful backdrop for conversation, Shepherds Market is becoming the top after work destination in the West End while icons such as 5 Hertford continue to thrive – where are your go-to places to dine in Mayfair and do you have any favourite dishes?
I’m a member of Maison Estelle, so I am there quite regularly during the week hosting breakfasts or meetings with partners we work closely with, from private banks to leading law firms. I absolutely love Scott’s – the Dover Sole and creamed spinach is my go to – and I recently had one of the best steaks I’ve ever had at 5 Hertford. Mount Street restaurant is also fun for dinner and they have some beautiful private dining rooms upstairs.
We hosted an event earlier this year in partnership with Boodles, where we invited a number of our clients for a private dining experience on the first floor of their Bond Street store. We had a delicious three course meal in the comfort of their ‘apartment’ whilst trying on and sharing their fabulous jewellery, and it was a huge success.
There is always so much going on in the area and there are often hidden events happening on any night of the week, whether it’s an art event showcasing famous trainer collections at Sotheby’s or a personal shopping event discreetly being held upstairs at Fendi. If you’re well connected, Mayfair can be a playground of fun at all times – and that’s one of the reasons so many people love it.
Like me, you have been at the helm of your successful business for just under two decades and have a history in finance, what changes have you witnessed in the fabric of the area and the clientele of the community over this time?
Mayfair has historically been an old money area, but new property developments in the area have created a new lifestyle offering, attracting demographics from entrepreneurs, tech and finance. Super prime property developer Finchatton were the driving force behind initial transformations in some of the Grosvenor Square properties, and it’s proved successful with buyers valuing the luxury lifestyle amenities that come with super prime new developments, such as 24 hour concierge, wellness centres and valet parking.
There are still plenty of unrenovated properties which haven’t changed hands in decades, but we’re starting to see these come onto the market as younger generations opt to liquidate inherited wealth. They often haven’t been touched for years and require considerable investment to bring them up to today’s standards, but with Westminster Council now restricting the size of new properties to no more than 200 square metres, they bring a real rarity value.
In your own words, what is your specialty?
Eccord represents individuals and families buying property in prime central London. We help them to gain access to off market, exclusive properties, and expertly navigate the purchasing process. I founded the company in 2006 to provide expert representation for buyers, after recognising the system was heavily weighted towards sellers and their agents. The trend to use buying agents has only grown since then and 18 years later we have acquired on more than 400 properties for our clients.
We are proud to be purely a buying agent, never crossing to the sell side, enabling us to find unique opportunities for our clients. We leave no stone unturned combing sales and lettings archives to navigate direct approaches to properties that may not usually be on the market. Our in-house property management team oversees over one billion dollars worth of prime properties placing us in a unique position for acquisition.
Your success within the property realm in prime/central London is commendable, what or who has been an inspiration to your way of working and methodology?
My late father was a role model to me as he built a very successful career from humble beginnings, based on integrity and being exceptional at what he did. I also come from a close family of grandmothers, aunts and sisters who are each strong, stoic and inspiring in their own individual way, which inspired my determination and resilience, and I hope to pass that down to my two daughters.
I am meticulously detail oriented and process driven by nature, and that runs through everything we do at Eccord. Our approach is very authentic and straight talking which has enabled us to build strong and lasting relationships with clients – and they come back to us time and time again. We’ve just celebrated Eccord’s 18th birthday, and there is so much more to come on the horizon for us. I love my job now more than ever and I feel we have the energy of a start up but the experience and reputation of nearly twenty years leading the market. Watch this space!
From Savile Row to Bond Street, the neighbourhood of Mayfair stands as a captivating blend of history and elegance. It is clear that Mayfair’s appeal lies not only in its architecture but the vibrant lifestyle it offers. For those seeking the perfect blend of tradition and innovation, it is no wonder this iconic district remains the pinnacle of luxury living and home to many of my previous and current clients.
